Commentary

10/26/20 – Midday Signals, Broken Neckline

Today’s action has broken the 341 neckline and is threatening to close the Steroid Stimugap created Oct 6 -7. The Sep 28th gap which created the rare Island bottom probably has to be closed at 328.73 before I stop talking about it. That is still 10 points south of the current SPY price. Probably that is a decent place to buy.

The 52 week SMA is at about 313. The 39 month SMA is about 280.

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